Iranian ships set for Sheriff's sale in Singapore

The Straits Times says the three containerships -- Tuchal, Sahand and Sabalan -- are being sold to satisfy a debt to Credit Agricole Corporate and Investment Bank.

The Chairman of the Islamic Republic of Iran Shipping Lines (IRISL), Mohammad Dajmar, says the impounding of three Iranian vessels is a violation of international law.

The Iranian state-controlled PressTV website quotes him as saying: "We had a loan [on the vessels] and the [bank] changed it from a loan to a due [payment] because of sanctions. In other words, they committed a violation. Because the loan contract was signed before the sanctions."

"We are trying to prevent the auctioning [of these vessels]," said Mr. Dajmar, and added, "We are negotiating to pay them [the bank] ourselves and resolve the issue."